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This newsletter is all about bank billing to corporations and other wholesale bank services users: standards, adoption of standards, billing practices and optimizing the billing experience. Issue headlines Progress by the industry group CGI-MP in development and adoption of BSB and AFP Global Service Codes. A BSB Rulebook for the German Market. Support for the Bank Services Billing standard continues togrow as additional banks support and market practice grow.
Service Codes is in final draft. Views from corporate practitioners on the value realized fromuse of the Bank services Billing schema. Progress by German banks in defining a German domestic market practice for use of the ISO 20022 BSB. Bank and country coverage of ISO 20022 and TWIST BSB capabilities are reported. Tips and tricks for the corporate practitioner. Standardized billing item codes for use with BSB. Members of this group have also developed a whitepaper featuring corporate case studies on use and value of BSB.
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The bank survey is now complete and is discussed in detail later in this issue. Updated vendor survey results are also included in this issue. Global Service Codes is in final draft. A task force led by Bridget Meyer and Stephanie Andersson of Redbridge DTA, and composed of CGIMP Workgroup 5 members, has finished its review and submitted recommendations to the AFP. The AFP will officially assign code numbers with publication of the new version expected in January 2018. Enhancement of the services covered to make it more representative of country requirements and billing practices outside of the USA. Cards, Prepaid Cards, and Corporate Purchasing Cards all under a new product family called CRD for Card Services.
While most banks are not billing for card services through BSB, there are a few banks that do have this capability and the committee wanted to have the basic codes covered. Similarly, a new product family for Trade services will be added with only a few high level codes to accommodate those banks that are able to connect this type of billing. TWIST as well as ISO 20022 camt. Many banks are already using these codes in their files and those that are not plan to implement them in the very near future.